This week’s U.S. Export Sales Report was actually a good one- including a slight rebound in the soybean numbers- ahead of tomorrow’s WASDE. Allendale commodity broker Greg McBride gave an update on the export sales numbers.
Flash sales have been quiet lately, and that trend continued this week. However, McBride said there was a flash cancellation that shook the wheat markets.
McBride said corn prices continue to hold an advantage to Brazil, and the gap in soybeans is still getting closer.
McBride said that corn sales are also still performing well, but as we’ve discussed numerous times already, the soybeans are still in rough shape.
McBride added that, even with the lackluster performance from the soybean sales, the USDA will still probably be conservative with any cuts they make to expectations.
The team at Allendale can be reached by calling 800-262-7538, or you can visit allendale-inc.com.
